Making money quick-Practical ways to grow fast

Updated on July 16, 2014

Making money quick! here refers to making huge amounts of money in a short span of time like few years. Many of us like to make good sum of money but we keep waiting for our turn (luck) or try to save large portion of income cutting off our expenses. But do we make huge money in short time or at least in our life time by above processes?

The easy way for us to learn how to make money is from those who made it or who were successful in doing it. But are they available at our door step to tell how they did? If not, will their books or autobiographies really display their actual tactics of how they made it.

So lets have an insight and analysis of how the big shots made huge money very quickly like Google (in a span of just 10years), Dirubhai Ambani the Indian busyness tycoon (in a span of 20 years) and many more.

Source

Start early: That is one need to start early in making money. In his opinion Warren buffet was dissatisfied with himself for starting of his stock investment at the age of 11 year boy. He wishes to have started even before. So this indicates the need to start making money from an early age.

Go for Business not Job: There is no one who made money huge amounts by job. It means making money quick and in heaps, then the only option is busyness of any sort but not a 8 to 5 job. Even self employment options are the best if one has the skill.

Have more income sources: In case you are into job or one set of business then go for one more side business or income source. It should be mostly a side business idea.

Use the latest possible technologyLike Internet, mobiles, advertising for quick growth of your busyness. Because they support your busyness growth with world wide awareness and presence.

Have a team of higly efficient people: Use of highly efficient, competent, technically sound people as your team of workers greatly helps you in your growth (WIPRO's AJIM PREMJI say it). This is a must for rapid up growth of any huge money making plans. That's why you may notice all the highly successful and reputed companies go for campus recruitment to find efficient, exceptionally talented people.

Try to overlook the future prospects and trend of the markets: This is very important for one to succeed in money making quickly and keep so for long term.

Look at Microsoft V/S GOOGLE. Microsoft was a super rich company a decade ago. But now it is trying to compete and cope up with Google's competition. Because Google though started late had continuously overtook future advancements like AdSense, YouTube, AdWords sort of prospects into its up growth.

Take a look at Reliance Industries creator Dhirubhai ambani. He covered the prospects of busyness starting from raw material, production, manufacture, distribution and retail into his own control to have benefits from all the stages. Thought it did not click to the minds of other big tycoons, now his imagination is followed by others even. But since he overtook first, his company always stands strong against up coming competitors.

Diversification:

Diversify your income sources: Having one income source for all the requirements is not advisable. Because it carries risk that if it goes down then, what are the other options to save the busyness. Even one feels less tensed and less insecure with many income sources.

So diversify your income sources. That is try to have more than one income source.

Diversify your working teams: Try to have more than one team of workers for you. Because there is chance that some of them may shift or leave the job, and if you don't have other options till you find some one new, you lose control on your business.

Diversify your busyness into different regions: This simply makes sense. The businesses tend to change with time at different locations. So diversifying into different regions avoids any untimely business lows due to problems in one region.

Try to get the work done: This is foremost requirement to be the boss of your busyness. You cannot do all the work so always try to use suitable candidates to get the work done. This is possible by suitable remuneration to the staff, rewarding their skill or competence, creating team work spirit among them last but not least they should have belief and confidence in you (owner).

Have courage: Don't be afraid to spend money or borrow it to spend. Because the only commodity which cannot be returned or regained is time. Money and all other commodities can be re-earned. A work of building an establishment may take 3 to 4 years but it can be done quick if you can spend more money. Then the time earned can be used to make money to repay the investments.

Avoid Procrastination: This is the worst cases for many and as per analysts many people are unable to overcome this in their life times. But highly successful guys never had this habit. It is said that Microsoft's- Bill Gates had this problem and overcame this habit at his first effort itself. Amazing huh!